Fibe, a leading Indian lending tech firm, is poised to become the third startup in its sector to go public in 2026. Ahead of its IPO, founders sold shares worth ₹113 crore, signaling confidence and liquidity among stakeholders.
- Cofounders sold shares worth ₹113 Cr in April 2026
- IPO planned to raise up to ₹750 Cr mainly for NBFC operations
- Top investors hold over 23% stake, founders under 3%
What happened
Fibe, previously known as EarlySalary, is targeting a public listing in 2026, following in the footsteps of other fintech lenders like Kissht and Aye Finance. The startup offers unsecured personal loans digitally and aims to raise up to ₹750 crore in its IPO mainly to support its NBFC arm's growth ambitions.
In April 2026, founders Akshay Mehrotra and Ashish Goyal executed a significant secondary share sale worth ₹113 crore before filing the draft red herring prospectus. This move involved selling Series D1 CCPS shares to major investors including TPG, Norwest Venture Partners, and Eight Roads Ventures. The cofounders' remaining combined direct stake is modest, with each holding around 2%, supplemented by an indirect holding through a separate entity.
Why it matters
Fibe's upcoming IPO is notable because it is entering the public markets without a clear promoter as defined by SEBI regulations, given the low direct holdings of its cofounders. This highlights a shift from founder-dominated capital structures to institutional investor-driven ownership in Indian fintech companies.
The company's strong financial metrics, including a doubling of net profit to ₹257.5 crore in FY26 and a 31% revenue increase to ₹1,584.6 crore, underscore its market traction. With assets under management exceeding ₹8,600 crore, the IPO proceeds will play a crucial role in sustaining growth and broadening financial product offerings beyond personal loans to business financing across diverse sectors.
What to watch next
Investors and market watchers should monitor how Fibe’s IPO performs given the founder stake dilution and the presence of large institutional shareholders selling down portions of their holdings. The success will also be a litmus test for fintech lending startups’ appetite among Indian public investors.
Additionally, the utilization of IPO funds to bolster EarlySalary Services Pvt Ltd’s NBFC operations will be closely scrutinized. Expansion into new financing domains such as education, healthcare, and solar sectors, coupled with maintaining profitability growth, will dictate Fibe’s post-listing performance and valuation trajectory.